If you are looking to continue to build your company privately, an LLC is a good option. Because LLCs are passed through entities they are only taxed only once. Also with an LLC you get the Liability protection of a corporation without the same formalities or expenses. This is especially important as medical device companies are capital intensive. LLC introduce more versatility as owners can elect to be taxed and as a corporation.

If the plan is to one day go public a corporation is required as, LLCs cannot issue shares of stock. This conversion to a corporation can be expensive and also requires double taxation.